Bitcoins/Litecoins/Virtual Currencies

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Arden

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WalMart is also setting the stage for this. Where they sell gas you can pay cash, or you can get a .05 a gallon discount if you walk inside, buy a WalMart gift card and load it up with your cash to pay for gas. It's essentially WalMart Coin pegged to (Dollar+.05) for gas. I bet eventually they'll extend it to the store "Get 1% off with your WalMart gift card!"

Amazon adopt that same strategy, to get people to load up on the Amazon coin giving it liquidity as they could then back it with cash and become the first business with it's own currency (potentially insulating it from coming Dollar insanity). I should say the first MODERN company with their own currency... As a nod to "St Peter don't ya call me cause I can't go, I owe my soul to the company store" and such.

I have no doubt. But take it to the next level: Company scrip - Wikipedia.

Amazon only pays its employees in Bezocoin or whatever, which is only redeemable at Amazon.
 

James

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Yeah I'm gonna say that I sincerely doubt they're going to come out with their own coin. A token of some sort, maybe (non-fungible or otherwise), but certainly not a currency. We'll see, I suppose.
 

Arden

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Yeah I'm gonna say that I sincerely doubt they're going to come out with their own coin. A token of some sort, maybe (non-fungible or otherwise), but certainly not a currency. We'll see, I suppose.

I don't see why they wouldn't come out with their own coin tbh. There really wouldn't be anything stopping them from coming up with something similar to the VET/VTHO dual coin.

Edit: Don't get me wrong, I'd much rather they just adopt VET so I can retire... but I doubt that will happen.
 

James

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I just don't see it, not for a long time anyway. A token for gift cards is absolutely something I would expect, but currencies are a lot more involved than that -- e.g. VET/VTHO is supply chain management, and I sincerely doubt Amazon is announcing a similarly scoped blockchain project anytime soon.

EDIT: I mean, think about it, why would Amazon step on the Fed's/JP Morgan's toes?
 

James

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Edit: Don't get me wrong, I'd much rather they just adopt VET so I can retire... but I doubt that will happen.

I don't think they need to do anything with their current supply chain infrastructure. It's the gold standard in digital logistics.
 

Arden

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I just don't see it, not for a long time anyway. A token for gift cards is absolutely something I would expect, but currencies are a lot more involved than that -- e.g. VET/VTHO is supply chain management, and I sincerely doubt Amazon is announcing a similarly scoped blockchain project anytime soon.

EDIT: I mean, think about it, why would Amazon step on the Fed's/JP Morgan's toes?

You might be right. But I don't think Amazon gives a fuck whose toes they step on. And they have the resources to make a coin or token (or whatever else they wanted) happen very quickly if they wanted to. But if they are just now getting around to the first steps of hiring a crypto team, it will be at least a couple years until they can truly enter the space. I have a feeling the "details" the rumor got wrong was 2021/2022 timeline part.
 

Haus

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I just don't see it, not for a long time anyway. A token for gift cards is absolutely something I would expect, but currencies are a lot more involved than that -- e.g. VET/VTHO is supply chain management, and I sincerely doubt Amazon is announcing a similarly scoped blockchain project anytime soon.

EDIT: I mean, think about it, why would Amazon step on the Fed's/JP Morgan's toes?

Because they consider themselves bigger than the Fed or JPM. This would let them establish their own economy essentially. As for the VET/VTHO comparisons. Amazon is already a logistics company, it would make sense for them to have a blockchain for that use alone, then extend it into a currency.
 

Arden

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I don't think they need to do anything with their current supply chain infrastructure. It's the gold standard in digital logistics.

Amazon definitely has problems with it's supply chain infrastructure. Especially when it comes to the fake/counterfeit goods angle. There are a lot of articles out there on the subject so I won't go hunting, but here's just one of them: Welcome to the Era of Fake Products

Ironically combating fake/counterfeit goods is exactly what blockchain tech would be great at. That's actually one of the reasons that Sunny Lu (VeChain CEO) got into crypto in the first place. He was the CIO of Louis Vuitton Greater China and realized the potential of blockchain for combatting counterfeit luxury goods etc.
 

James

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Amazon definitely has problems with it's supply chain infrastructure. Especially when it comes to the fake/counterfeit goods angle. There are a lot of articles out there on the subject so I won't go hunting, but here's just one of them: Welcome to the Era of Fake Products

I don't think any of those problems are actual problems that can't be solved with their current system design, and I think those same exact problems would surface in any decentralized blockchain application -- Proof of Authority attempts to circumvent the permissioned transactions necessary for supply chain management by delegating it to trusted authorities, which means it's a fundamentally centralized and vulnerable design. There is a lot of work that needs to be done on the physical IoT side of things before we're anywhere near blockchain supply management imo.

Because they consider themselves bigger than the Fed or JPM. This would let them establish their own economy essentially.

No doubt such an attitude also sees the US economy as essentially their own, then, and it's hard to imagine Bezos and co not loving the shit out of the current system.
 

swayze22

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Arden

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I mean, it goes without saying, but:

1. Plenty of things already put Americans' money at risk, from the stock market, to inflation, to government mismanagement, to Las Vegas.

And

2. Americans have every right in the world to be allowed to risk their money however they feel.
 
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Il_Duce Lightning Lord Rule

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I can't speak for the market as a whole, but Truebit has been VERY active the last few days and nearly hit $.36 earlier today. Pretty nice for my liquidity pooling.
 
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